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CBDT extended due date time limit for 24Q TDS return and Form 16

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CBDT has extended the time limit for filing of E-TDS return to be filed by the deductors in Form 24Q from 31.05.2019 to 30.06.2019 in all cases.  By an  Order dated 04.06.2019, the CBDT has extended the due date of filing of TDS statement in Form 24Q for the financial year 2018-19 from 31st of May, 2019 to 30th of June, 2019 and also the due date for issue of TDS certificate in Form 16 for financial year 2018-19 from 15th of June, 2019 to 10th of July, 2019.


The extension of the due date by the CBDT is given with a view to redress genuine hardship of deductors in timely filing of TDS statement in Form 24Q on account of revision of its format and consequent updating of the File Validation Utility for its online filing.



Earlier by an Order dated 24.05.2019, CBDT extended the due date of payment of TDS for the month of April 2019 from 07th May 2019 to 20th May 2019. The due date of filing of Quarterly Statement of TDS (in Form 24Q, Form 26Q and Form 27Q) for the last quarter of the financial year 2018-19 from 31st of May, 2019 to the 30th of June, 2019. It has also extended the due date for issue of TDS certificates in Form 16 and 16A from 15th of June, 2019 to 15th of July, 2019.

The extension by Order dated 24.05.2019 was given only for deductors hailing from Odisha with a view to redress genuine hardship faced by the deductors due to the severe disruption of normal life and breakdown of communication systems caused by cyclone "Fani" hitting the state of Odisha on 3rd of May, 2019.

Thus the present order dated 04.06.2019 is not going to affect the extension given to deductors from Odisha in any manner. They were already enjoying the benefit of extension of the due date. In the context of the quarterly statement in Form 24Q, though the extension of due date for filing of TDS return or Quarterly statement is the same for deductors from Odisha and other States, the due date for issue of TDS certificates in Form 16 is different. 


All the deductors who deducts tax from the income paid to payees are required to file TDS returns in electronic format with the income tax authority. It is a statutory obligation of every deductor to file the e-TDS statement in the prescribed forms within the prescribed dates to the income tax authority. Once the TDS return or statement is filed by the deductor the TDS gets reflected in Form 26AS of the deductee and the deductee gets the credit of the income tax so deducted by the deductor.

Also read:


According to section 200(3) of Income Tax Act, 1961 ,Any person deducting any sum on or after the 1st day of April, 2005 in accordance with the foregoing provisions of this Chapter or, as the case may be, any person being an employer referred to in sub-section (1A) of section 192 shall, after paying the tax deducted to the credit of the Central Government within the prescribed time, prepare such statements for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed:

Provided that the person may also deliver to the prescribed authority a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be specified by the authority."

The prescribed forms or statements and time limit for furnishing quarterly statements have been prescribed in Rule 31A of the Income Tax Rules, 1962.

Prescribed forms or statements for TDS returns-

a) Statement of deduction of tax under section 192 in Form No. 24Q
b) Statement of deduction of tax under sections 193 to 196D in—
        (i)   Form No. 27Q in respect of the deductee who is a  
               non-resident not being a company or a foreign 
               company or resident but not ordinarily resident; and
       (ii)   Form No. 26Q in respect of all other deductees.


Prescribed due dates for furnishing above-mentioned forms or statements for TDS returns-

Sl. No.
Date of ending of quarter of financial year
Due date
1.
30th June
31st July of the financial year
2.
30th September
31st October of the financial year
3.
31st December
31st January of the financial year
4.
31st March
31st May of the financial year immediately following the financial year in which the deduction is made

Issue of TDS Certificates in Form 16 or Form 16A-



The prescribed forms in which TDS certificates are required to be issued and the time limit within which such certificates are required to be issued by the deductor to the deductees is given in Rule 31 of the Income Tax Rules, 1962.


    a) Form No. 16, if the deduction or payment of tax is 
         under section 192; and

    b) Form No. 16A if the deduction is under any other 
         provision.


Contents of a TDS certificate as prescribed in Rule 31-



The certificate referred to in sub-rule (1) shall specify:—
(a)valid permanent account number (PAN) of the deductee;
(b)valid tax deduction and collection account number (TAN) of the deductor;
(c)(i) book identification number or numbers where deposit of tax deducted is without production of challan in case of an office of the Government;
(ii) challan identification number or numbers in case of payment through bank;
(d)(i) receipt number of the relevant quarterly statement of tax deducted at source which is furnished in accordance with the provisions of rule 31A;
(ii) receipt numbers of all the relevant quarterly statements in case the statement referred to in clause (i) is for tax deducted at source from income chargeable under the head "Salaries"



Time limit prescribed for issue of TDS certificates in Form 16 or Form 16A -


Form No.
Periodicity
Due date
16
Annual
By 15th day of June of the financial year immediately following the financial year in which the income was paid and tax deducted.
16A
Quarterly
Within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A.
For Quarter-1
By 15th August
For Quarter-2
By 15th November
For Quarter-3
By 15th February
For Quarter-4
By 15th June


It is very strange that the Board has issued the order for extension of the time limit of due date for filing of TDS return in 24Q for salaried persons after 4 days of the expiry of the due date. Ideally, the extension should have come well before the 31st May 2019. It is obvious that many of the employers might have filed their statement in 24Q by 31st May 2019. Those who did not file their statement in 24Q are in an advantageous position and avoided the late fees. The due date for furnishing the TDS certificates in Form 16A has also been advanced to 10th July. Remember, the due date to file the ITR for a salaried person is 31st July. Since till now the due date for filing of ITR has not been extended, they will get merely 21 days time to file their ITR. A communication from the CBDT is highly solicited well in time to avoid any confusion. Remember, there is late fees to be paid by the assessee if the ITR is filed after the due date of 31st July 2019. The due date for filing of ITRs for individuals has been extended in earlier years too for various reasons viz., giving more time for PAN-Aadhaar linking, etc.

Recently the CBDT has issued Notification No. 36/2019 dated 12.04.2019 and amended the format of Form 16 and Form 24Q and stated that the new format shall become applicable from 12th May, 2019 for AY 2019-20 (FY 2018-19). As per the new format, every employer is required to report the detailed break-up of salary, exempt allowances and deductions claimed and allowed to an employee. Further, the income-tax return forms for AY 2019-20 were also amended by CBDT in line with the changes made in Form 24Q and Form 16.
 

Read the CBDT order extending the due date of filing of TDS statement in Form 24Q for the financial year 2018-19 and the due date for issue of TDS certificate in Form 16 for the financial year 2018-19 here.


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